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Payment Systems: Borderless Digital Wallet

Thomas Cook img_2038RBL Bank of India will distribute multi-currency borderless prepaid card of travel firm Thomas Cook through its 185 branches. The card offers travelers the advantage of loading up to eight currencies on a single prepaid card (US dollars, British pounds, euro, Australian dollars, Canadian dollars, Swiss francs, Singapore dollars and Japanese yen), which would provide enhanced access and convenient to outbound consumers.

The card has features such as instant loading, emergency cash disbursement and free replacement card in case stolen or lost besides 24×7 global emergency assistance via toll free access in over 80 countries, Thomas Cook India said.  Ritesh Pai, senior vice president and head, Direct Banking Channels of the bank said with increasingly large number of Indians commuting abroad for the purpose of business, leisure and education, a single card with provisions for 8 currencies will certainly increase travelers’ convenience and enhance security as well. The bank will leverage its network of branches across the country to market this outstanding product to a large number of patrons.

Source:   Bankingfrontiers.com

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